Surge Energy (TSE:SGY) Insider Murray Bye Sells 20,000 Shares of Stock

Surge Energy Inc. (TSE:SGY) insider Murray Bye sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of C$9.64, for a total value of C$192,800.00. Following the transaction, the insider directly owned 29,506 shares in the company, valued at C$284,437.84. This trade represents a 40.40% decrease in their position.

Surge Energy Stock Up 0.2%

Shares of TSE:SGY opened at C$9.40 on Wednesday. Surge Energy Inc. has a 52-week low of C$4.37 and a 52-week high of C$9.70. The stock has a market cap of C$929.11 million, a P/E ratio of 23.50, a PEG ratio of 0.59 and a beta of 0.14. The business has a fifty day moving average of C$8.03 and a two-hundred day moving average of C$7.34. The company has a quick ratio of 0.40, a current ratio of 0.78 and a debt-to-equity ratio of 33.64.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C$0.55 EPS for the quarter. The business had revenue of C$111.40 million for the quarter. Surge Energy had a return on equity of 5.47% and a net margin of 7.21%.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial raised shares of Surge Energy from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$9.00 to C$11.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, Surge Energy has a consensus rating of “Buy” and a consensus target price of C$9.75.

Surge Energy Company Profile

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.